FNCCI urges policy amendments ahead of government’s investment conference

KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has called for necessary amendments to policies and rules hindering investment before the upcoming government-organized investment conference.

During his address at the 43rd Annual General Meeting of the Nepal Handicraft Federation, FNCCI President Chandra Prasad Dhakal emphasized the need for policy improvements to encourage investment. The government is gearing up to host an investment conference in the Nepali month of Baisakh.

President Dhakal stressed the importance of introducing policies that promote domestic production and complained about delays in lobbying despite entrepreneurs receiving CIP (Commercially Important Person) awards every two years.

Additionally, he urged the inclusion of industrialists and entrepreneurs in the national order of dignity, highlighting the uncomfortable situations faced during the CIP process. Deputy Prime Minister and Home Minister Narayan Kaji Shrestha were urged to alleviate such challenges.

Nepal Chamber of Commerce (NCC) President Rajendra Malla echoed the sentiment, calling on the government to address export-related issues. He proposed the swift establishment of an online gateway for export promotion and direct import of raw materials by exporters without intermediaries, especially for metallurgical materials.

Malla emphasized the need to transform Nepali handicrafts into a significant source of earning foreign currency and suggested making export promotion more effective by streamlining the process.

Home Minister Shrestha assured a positive government stance on including industrialists and entrepreneurs in the national order of dignity. He pledged to call a meeting with the Prime Minister, the Ministry of Industry, Commerce and Supplies, and other relevant agencies to resolve industrial issues.

Moreover, he committed to convening a meeting with the Prime Minister within 15 days to address policy challenges and other concerns faced by the private sector. The FNCCI’s call reflects the private sector’s push for a conducive environment for investment and economic growth.